During lockdown I was able to have music jams with high quality uncompressed audio at 10ms (effectively real time), using Jamulus for the audio, and Zoom for the video. Then the whole thing was live streamed to Twitch.
There’s a bunch of similar bits of software but none of them are super welcoming for the less technically inclined. I guess that the experience is often going to be limited by network performance (specifically jitter and loss on UDP) so it’s a challenging thing to make super slick/consistent. I think that low latency 5G with latency guarantees might help solve it when its widely available though.
If you have special software like Jamulus, non-wireless internet, players geographically close to each other, and an external audio interface, the latency is surprisingly good. If you have most but not all of that, it can still be usable. Our end-to-end latency was around 30 ms, so not as low as parent's, but we were still able to play even "jam songs" where just followed each other for chord changes instead of having agreed them beforehand.
- ethernet instead of wlan
- dedicated audio interface, takes calculation overhead off your computer
- a proper microphone, improves acoustics greatly
All of these steps will increase Zoom/Skype experience, too. However, Zoom/Skype will hardly go below 100s of ms of latency, just by themselves.